Assignment 1 Opportunity Analysis/ Idea Generation The following steps to be followed while assessing the ideas. 1. Background research to check if something similar is already offered in the market, or

in some other market. 2. Evaluate the problems to check which if a unique solution is required and can be pursued further for your project. The next steps will be followed once you have identified the one idea that you will pursue. For this part the student will prepare a write up for idea evaluation process. 1. The environmental trends which are favorable or unfavorable for your business idea. Here, you can provide findings from research studies, statistical data, reports, etc. The referred resources should be recent. 2. What is unique about your idea? Which needs/problems/ wants of the customer will be addressed by your idea? This part can again be supported with research based evidences as mentioned in point 1. 3. What will be the main resources required for your venture? While answering this point try to be as specific as possible.